NEOS Investment Management LLC Buys 38,973 Shares of International Business Machines Corporation $IBM

NEOS Investment Management LLC raised its stake in International Business Machines Corporation (NYSE:IBM) by 51.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,395 shares of the technology company’s stock after buying an additional 38,973 shares during the period. NEOS Investment Management LLC’s holdings in International Business Machines were worth $32,278,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IBM. Beacon Capital Management LLC lifted its stake in shares of International Business Machines by 6.9% in the third quarter. Beacon Capital Management LLC now owns 2,402 shares of the technology company’s stock worth $678,000 after acquiring an additional 154 shares during the period. Cassaday & Co Wealth Management LLC raised its holdings in International Business Machines by 0.4% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 14,407 shares of the technology company’s stock worth $4,065,000 after purchasing an additional 57 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of International Business Machines by 14.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,360 shares of the technology company’s stock worth $384,000 after purchasing an additional 171 shares during the period. Wealthcare Advisory Partners LLC raised its stake in International Business Machines by 4.8% during the third quarter. Wealthcare Advisory Partners LLC now owns 22,083 shares of the technology company’s stock worth $6,231,000 after buying an additional 1,011 shares during the last quarter. Finally, Wealthcare Capital Management LLC acquired a new position in International Business Machines in the third quarter valued at $302,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 1.1%

International Business Machines stock opened at $262.33 on Tuesday. The firm has a market capitalization of $245.21 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 2.63 and a beta of 0.69. The firm’s fifty day moving average price is $298.30 and its two-hundred day moving average price is $284.26. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.33 by $0.19. The company had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.92 EPS. On average, equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 60.27%.

Insider Transactions at International Business Machines

In related news, Director David N. Farr acquired 1,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were acquired at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the purchase, the director owned 9,258 shares in the company, valued at approximately $2,814,432. The trade was a 12.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on IBM shares. Oppenheimer set a $380.00 price objective on International Business Machines and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Evercore boosted their price target on International Business Machines from $330.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Royal Bank Of Canada set a $361.00 price objective on shares of International Business Machines in a research report on Thursday, January 29th. Wedbush increased their target price on shares of International Business Machines from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Finally, Bank of America lifted their price target on shares of International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $330.07.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.